Lazard (NYSE:LAZ) Upgraded by Wall Street Zen to Buy Rating

Lazard (NYSE:LAZ) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

Other research analysts have also issued reports about the stock. Keefe, Bruyette & Woods raised their target price on shares of Lazard from $59.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, January 30th. Citigroup restated a “market outperform” rating on shares of Lazard in a report on Friday, January 30th. Zacks Research downgraded shares of Lazard from a “hold” rating to a “strong sell” rating in a report on Monday, January 12th. UBS Group reissued a “neutral” rating and set a $59.00 price objective on shares of Lazard in a research note on Friday, January 30th. Finally, Morgan Stanley lowered their price objective on Lazard from $61.00 to $59.00 and set an “underweight” rating for the company in a research note on Tuesday, January 6th. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Lazard currently has an average rating of “Hold” and a consensus target price of $57.13.

Lazard Stock Down 4.4%

Shares of LAZ stock opened at $50.58 on Friday. The company’s fifty day simple moving average is $52.00 and its two-hundred day simple moving average is $52.03. Lazard has a 52 week low of $31.97 and a 52 week high of $58.75. The stock has a market cap of $5.65 billion, a P/E ratio of 23.20, a PEG ratio of 0.42 and a beta of 1.38. The company has a quick ratio of 2.58, a current ratio of 2.28 and a debt-to-equity ratio of 1.85.

Lazard (NYSE:LAZ) last issued its earnings results on Thursday, January 29th. The asset manager reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.12. Lazard had a return on equity of 33.04% and a net margin of 7.49%.The firm had revenue of $892.00 million for the quarter, compared to analysts’ expectations of $876.32 million. During the same period in the previous year, the firm posted $0.78 earnings per share. The business’s revenue was up 11.0% compared to the same quarter last year. Analysts predict that Lazard will post 4.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Lazard

A number of large investors have recently bought and sold shares of LAZ. Kestra Advisory Services LLC bought a new position in Lazard in the 4th quarter valued at $26,000. Sound Income Strategies LLC boosted its stake in shares of Lazard by 59.5% during the fourth quarter. Sound Income Strategies LLC now owns 590 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 220 shares during the period. IFP Advisors Inc boosted its stake in shares of Lazard by 53.5% during the third quarter. IFP Advisors Inc now owns 643 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 224 shares during the period. Quest 10 Wealth Builders Inc. bought a new position in shares of Lazard in the fourth quarter worth about $32,000. Finally, Costello Asset Management INC bought a new position in shares of Lazard in the third quarter worth about $37,000. Hedge funds and other institutional investors own 54.80% of the company’s stock.

Lazard Company Profile

Lazard Ltd. (NYSE: LAZ) is a leading global financial advisory and asset management firm, offering a comprehensive suite of services to corporations, governments and individuals. Founded in 1848, Lazard has built a reputation for providing independent advice and innovative solutions in complex financial transactions. The firm is publicly traded on the New York Stock Exchange under the ticker symbol LAZ and maintains its headquarters in Hamilton, Bermuda.

In its Financial Advisory segment, Lazard assists clients with mergers and acquisitions, restructurings, capital structure optimization and strategic planning.